6.1 m-standards program updateitem 6.1 page 6.1 item 6.1 memo on standards program update psc new...

ITEM 6.1 page 6.1

Item 6.1 Memo on Standards Program Update PSC New York July 2004

INTERNATIONAL FEDERATION

OF ACCOUNTANTS

545 Fifth Avenue, 14th Floor Tel: (212) 286-9344

New York, New York 10017 Fax: (212) 286-9570

Internet: http://www.ifac.org

DATE: 1 JUNE 2004 MEMO TO: MEMBERS OF THE IFAC PUBLIC SECTOR COMMITTEE FROM: PAUL SUTCLIFFE SUBJECT: INTERNATIONAL PUBLIC SECTOR ACCOUNTING

STANDARDS ACTION REQUIRED The Committee is asked to: • note developments in the areas outlined below; and • provide a verbal report on any additions BACKGROUND The purpose of this paper is to provide an overview and update on funding, promotion and translation activities since the last PSC meeting. This is a standing item for the PSC Agenda. The Work Program for 2004 and beyond is considered in detail at Agenda items 6.2 through 6.6. Major changes to the tables since the March meeting are highlighted by mark-ups. (i) Standards Program Funding Organizations approached for funding to date and the current status of fundraising efforts are summarized in Attachment 1 to this memo. A funding proposal has been prepared following discussion with the international organization represented as observers on the PSC. However, no additional funding approaches have yet been made. It is intended to co-ordinate funding approaches with recommendations of the PSC Review Committee as far as is appropriate. The report of the Review Committee will be discussed at this meeting. Financial information regarding operations of PSC’s standard program during the first half of 2004 will be provided to members at the meeting.

Current Funding Profile Organization Status Public Expenditure and Financial Accountability (PEFA) Program

Support of $50,000US for the Budget Reporting Project has been provided by PEFA. PEFA is financed jointly by the World Bank, European Commission, and UK DFID.

Multi Lateral Development Bank (MDB), and World Bank

$75,000US to support the Development Assistance Project has been provided through a fund administered by the World Bank.

World Bank Have approved $250,000US per annum for 3 years to 2004, subject to annual application/approval.

International Monetary Fund

Have provided $50,000US per annum for 4 years to end 2004.

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Organization Status Asian Development Bank

Have provided funding of $82,000US per annum for three years to end 2004.

(ii) Standards Project Promotion and Key Relationship Management Background A revised list of current invitations, and presentations and articles already made and/or published in 2004 is set out below. A list of past presentations, articles and meetings is included at Attachment 2 to this memorandum. If you have received invitations to present or have attended any seminars or meetings that should be included in this list, please inform Jerry. In addition to matters identified in this list, PSC members and their technical support and observers also report on a regular basis to their national boards and/or other relevant bodies on PSC activities. PSC staff also report to the IFAC Board and relevant IFAC staff and Committees on a regular basis. 2004 Invitations and Activities

Date Location/Activity Host/Participants/Journal PSC Representative January Washington Discussions with the following re PSC

program and funding: World Bank, IMF, IDB

Philippe Adhémar

London Discussions with IASB, UK Audit Office, FEE – PSC Chair, UK – ASB

Philippe Adhémar and Mike Hathorn

New York IFAC – CEO Meeting Philippe Adhémar

Brussels European Union Standards Committee Mike Hathorn February

Paris Meeting of OECD Task Force on Harmonization and Working Groups 1 and 2

Philippe Adhémar Ian Mackintosh (for the PSC) Robert Keys Paul Sutcliffe

February New Delhi Presented PSC achievements and future progress to the Global Working Group of 12 Auditors General

Philippe Adhémar

February Paris OECD Accruals seminar Philippe Adhémar, Mike Hathorn, Paul Sutcliffe

February Hamburg Symposium of State and local government

Norbert Vogelpoth

February Brussels European Union Standards Committee Mike Hathorn February London IASCF/IASB staff – Meetings re

translations and work program Paul Sutcliffe

March

Buenos Aires – Seminar

Argentinean FACPE Seminar Philippe Adhémar Carmen Palladino Mike Hathorn Terence Nombembe Rick Neville

April Prague European Accounting Association Philippe Adhémar

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(EAA) Conference April Article in “Die

Wirtschaftspufung Comparison of IPSASs and German Public Sector Accounting Standards

Norbert Vogelpoth

May North-Rhine Germany

Presentation to Ministries on IPSASs Norbert Vogelpoth

June Paris OECD Workshop: Implicit Liabilities and IAS 19 Employee Benefits

Philippe Adhémar

June

Budapest Chamber of Hungarian Auditors – International Conference

Philippe Adhémar

June Oslo IASB - Standards Advisory Council Philippe Adhémar Sept Boston International Colloquium on Financial

Management for National G’ments Philippe Adhémar

Sept Brussels European Commission/FEE Public Sector Committee, Conference

Philippe Adhémar, Norbert Vogelpoth

Sept Washington TFHPSA Philippe Adhémar and Paul Sutcliffe

Nov London IASB - Standards Advisory Council Philippe Adhémar (iii) Translations

The PSC has recognized the importance of translating its pronouncements into languages other than English and identified the following as key languages: French, Spanish, Chinese, Russian and Arabic. The IPSASs issued to date are based on the International Accounting Standards (IASs) issued by the IASB. As such, there is an advantage for the IASB and the PSC to work together on translations. In 2002 the PSC entered an agreement with the IASCF to translate IPSASs into French and Spanish. We are still awaiting a report from the IASCF staff on progress since the March meeting. However, we understand that the French translation of IPSASs 1 – 18 has been completed and is currently subject to final review (translation of IPSASs 19 and 20 is also in progress), and completion of the Spanish translation of IPSASs 1-20 is expected by the end of June. In addition, translations of PSC documents into other languages are in progress or completed. The table below summarizes progress on translation activities to date. Please advise Jerry Gutu of any amendments to this listing. We are also awaiting a letter outlining from the IASCF staff which documents arrangements for the translation of the Cash Basis IPSAS into French and Spanish. Language Organization Status French IASB-PSC

NATO

Anticipate translation of IPSASs 1 – 20 completed by mid 2004. NATO has translated the black letter paragraphs of 1-8 into French. NATO representation has been included on the IASB-PSC translation panel. Arrangements being made with IASCF for translation of Cash Basis IPSAS.

Spanish Inter-American Development Bank (IADB)

IPSASs 1 – 20 have been completed and are subject to quality assurance

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IASB – PSC

review by the IASB – PSC translation panel. Anticipate completion of translation by Mid 2004. Arrangements being made with IASCF for translation of Cash Basis IPSAS.

Czech Chamber of Auditors of the Czech Republic and Czech Member Body of IFAC

PSC Handbook being translated by the Czech member body.

Bosnia and Macedonia

Ministry of Finance Enquiry received

Russian International Center for Accounting Reform (ICAR) Kazakhstan Member Body of IFAC Samara Region Institute

Translation of following completed: IPSASs 1-12, the Glossary of defined terms, PSC Studies and Guideline 1 on GBE’s. The Kazakhstan member body is translating the PSC Handbook into Russian. Enquiry re authority to translate received. (Staff have advised of other Russian translation activity.)

Chinese

PRC Ministry of Finance in conjunction with World Bank Taiwan Institute

Anticipate completion of IPSASs 1 – 20 by the end of July 2004 Study 11 has been translated into Chinese.

Arabic The Palestinian Accounting Association Arab Society of Certified Accountants, Amman, Jordan

Translated IPSASs 1 – 12. Translation of IPSASs 13 – 20 in progress. ASCA has prepared a translation of the IASs into Arabic and translated IPSASs 1-13, Studies 3-12, Guidelines 1and 2, and is currently translating Studies 13 and 14 and Occasional papers 4 and 5.

Italian Italian Institute IPSASs 1-17 completed. IPSASs 18-20 under way.

Bahasa Indonesia

Professor Indra Bastian. IPSASs 1-15 have been translated

Maltese Grant Thornton – Malta Office, on behalf of the Government of Malta

English versions used. No translations occurring.

Japanese Japanese Institute Translation of IPSASs 1- 20, Cash Basis, Study 11 and Study 14 completed.

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Mongolian Mongolian Institute with World Bank support.

Translation of IPSAS 1-20 in progress.

German Swiss and German Institutes Considering translation – no action as yet.

Bulgarian Bulgarian Member Body of IFAC The Bulgarian member body is translating the PSC Handbook.

Switzerland Dr Andreas Bergman – on behalf of Swiss Government

English version used for reform process. No urgency for translation.

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ATTACHMENT 1 – FUNDING – CONTACTS MADE AND RESPONSES TO END 2003 UK Department for International Development

No developments since report at last meeting. In the past detailed materials to support funding has been provided at DIFD request on two separate occasions without success. Amount sought was up to $100,000US per annum for four years.

Nordic Investment Bank Staff provided strategy/funding papers in 2001/02. Staff advised that PSC funding did not fit Bank mandate. No further action proposed.

European Union Representation for funding made by PSC European members, but advised funding is unlikely.

Canadian International Development Agency (CIDA)

Canadian Members and staff followed up on funding possibilities with CIDA. Advised funding now unlikely, particularly since similar organizations in other countries have not provided funding. No further action proposed for 2003.

UNESCO Chair and staff met with UNESCO representatives in September 2001. Advised that funding support was unlikely. No further action proposed for 2003.

United Nations Development Program and UN Volunteers

The UNDP will not be able to provide funding support but may be able to provide other assistance. Staff followed up on contact with UN Volunteers made at FEE conference in November 2000, but initial contact has left UN and referral contacts have not responded. No further action proposed.

United Nations – DESA The Division for Public Economics and Public Administration within the UN is not a funding institution. UN will attend PSC meeting as an observer.

Inter-American Development Bank

Have indicated support for the project at the same level as ADB. USA member and staff have followed up. USA member met with IADB staff in May and June. Still awaiting response.

USAID/US Treasury USAID have indicated support for the project and are continuing to explore ways to provide support. US Treasury also approached – waiting policy decision before able to offer support.

Standard and Poor’s (NY) Contact made in 2000. Follow up letters sent in 2000 and 2001; however no response received to date. No further action proposed.

Moodys (NY) Contact made in 2000. Follow up letters sent in 2000 and 2001; however no response received to date. No further action proposed.

Swedish International Development Agency (SIDA)

Initial contacts identified. Staff followed-up during 2001. However SIDA responded that they are reassessing their focus/strategy and are not able to support at this stage. No further action proposed for 2003.

Citigroup Initial approach made 2000 and followed up in 2001. However no response received to date. Funding unlikely. No further action proposed.

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J P Morgan Chase and Co. Initial approach made and followed up. However no response received to date. No further action proposed.

Japan Bank for International Co-operation

Staff met with bank representatives in 2001 and followed up subsequently. Indications are that they will not be in a position to provide general funding on a broad project wide basis. No further action proposed.

AusAid Have indicated that they do not provide support to broad based initiatives, rather they focus on country specific projects. No further action proposed for 2003.

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ATTACHMENT 2 PSC Standards Development Program Communication/Promotion 2(a) Activity 2003 Date Location/Activity Host/Participants/Journal PSC

Representative February Melbourne Australasian Auditors-

General Annual Conference Ian Mackintosh

February Paris OECD Conference Ian Mackintosh, Paul Sutcliffe

February London IASB-SAC Ian Mackintosh February Dar Es Salaam ESAAG Jerry Gutu February Vietnam Ministry of Finance (MOF) Ron Points March Melbourne CPA Australia Paul Sutcliffe March Miami ICGFM Ron Points March Brussels European Union Standards

Committee Mike Hathorn

April Virginia, USA Society of CPAs Government Conference

Ron Points

April Melbourne CPA Australia Conference Ian Mackintosh, Kevin Simpkins, Paul Sutcliffe

April Melbourne Round table discussion: AASB, HOTARAC, CPA Australia

PSC Members, Staff

April Brussels European Union Standards Committee

Mike Hathorn

June Delhi South Asian Comptroller-General of Accounts

Ian Mackintosh

June Washington IPSAS/GFS/GFS Convergence meeting

Ian Mackintosh, Robert Keys, Paul Sutcliffe

June New York Government Finance Officers’ Association Conference

Ron Points

July Mexico City Mexican Institute of Public Accountants and Governments of Colombia and Peru International Seminar

Javier Saavedra

July Solingen Germany Symposium – Local government

Norbert Vogelpoth

September Vancouver International Colloquium on Financial Management for Governments

Ian Mackintosh

September London International and National Standards Setters meeting

Ian Mackintosh

November Australia Article for CPA Journal Ian Mackintosh,

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Date Location/Activity Host/Participants/Journal PSC Representative Paul Sutcliffe

November Berlin Presentation to FEE Public Sector Committee

Ian Mackintosh, Paul Sutcliffe

November Berlin Symposium Ian Mackintosh, Norbert Vogelpoth

December London IASB Standards Advisory Committee

Ian Mackintosh

December Ferrara, Italy International Congress on Accounting Standards for Public Administration

Philippe Adhemar

December Zurich Round table discussion of IPSASs

Norbert Vogelpoth

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ATTACHMENT 2 PSC – Standards Development Program Communication/Promotion 2 (b) Activity 2002 Date Location/Activity Host/Participants/Journal PSC

Representative 2002 Invitations and Activities February Jakarta Indonesia Indonesian CPA Conference Ron Points February Melbourne -

Briefing David Boymal PSC Liaison Board Member


February Sydney and Melbourne– briefing/discussion

IMF Mission on GFS Ian Mackintosh, Paul Sutcliffe, Matthew Bohun

March Beijing/Seminar Chinese Ministry of Finance and CICPA

PSC members

March Article Public Fund Digest Paul Sutcliffe April Amsterdam –

Presentation Royal NIVRA Seminar Peter Bartholomeus,

Aad Bac April Miami -Presentation ICGFM Conference Ron Points April Paris CNC Seminar Philippe Adhemar May Mongolia Ministry of Finance Ron Points May USA IMF Budgeting and Standards Ron Points May USA Chongqing Chinese Finance

Staff Ron Points

May Johannesburg Work shop Erna Swart June USA AICPA Government

Conference Ron Points

June USA GFOA Conference Ron Points June Washington D.C. -

presentation Institute of Internal Auditors World Conference

Ron Points

June Paris OECD -DAC Conference Ian Mackintosh and Paul Sutcliffe

June New York United Nations Ian Ball and Jerry Gutu

June Washington World Bank - Paul Sutcliffe and Jerry Gutu

July Paris Steering Committee Social Policy Obligation

Kevin Simpkins, Mario Abela, LiLi Lian, Paul Sutcliffe

July London ACCA Conference Mike Hathorn June Toronto Steering Committee Non-

Exchange Revenue David Rattray, Mathew Bohun, Paul Sutcliffe

July/August (?) Russia ICAR Conference (to be confirmed)

David Rattray

August Australia Monash University Matthew Bohun

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Date Location/Activity Host/Participants/Journal PSC Representative

September Speyer, Germany Conference of German public sector accounting experts

Norbert Vogelpoth

September USA US Treasury International Colloquium

David Rattray

September USA GASB Ian Mackintosh, Paul Sutcliffe

September USA AICPA Govt Conference Ron Points October Article Public Money and

Management Paul Sutcliffe

October Jakarta Indonesia Ministry of Finance Ron Points October Mongolia Ministry of Finance Ron Points October Delhi India Indian Institute and AUSAID David Bean November 2002 Hong Kong -

presentations IFAC World Congress Ian Mackintosh,

Terence Nombembe, Ron Points, Paul Sutcliffe

November GASB-USA Steering Committee Non exchange Revenue

D. Rattray, M. Bohun

November CPA- Australia Steering Committee Social Policy Obligations

K.Simpkins, M. Abela, Li Li Lian, P.Sutcliffe

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ATTACHMENT 2 PSC – Standards Development Program Communication/Promotion 2(c) Activity pre 2002 Date

Location Host PSC Representative

December 2001 Ankara, Turkey World Bank and the Turkish Ministry of Finance -International conference on expenditure management reform

Erik Peters

December 2001 Australia Financial Reporting Council (FRC)

Ian Mackintosh

December 2001

Australia RMIT Research Seminar Series

Mathew Bohun

November 28 – 30, 2001

Rome, Italy UN John Stanford

November 9, 2001

Germany German public sector accounting experts

Norbert Vogelpoth

October 2001 Brussels European Union Philippe Adhemar October 25, 2001

Australia HOTARAC Ian Mackintosh

October 26, 2001

Australia AASB Ian Mackintosh

October 16 - 17 Washington DC IASB Standards Advisory Council

Ian Mackintosh

October, 15 – 17 2001

Norfolk, VA, USA NATO Ron Points

October 2001 Washington DC IMF Task Force on Monitoring Standards and Codes (TAMS)

Bert Keuppens

October, 7 – 11 2001

Prague, Czech Republic

10th International Anti-Corruption Conference – Transparency International

Ron Points

September 7, 2001

Paris France UNESCO – Peter Leslie and Mark Warren

Ian Mackintosh, Paul Sutcliffe, Jim Sylph

September 2001 Paris, France OECD Symposium on Accrual Accounting and Budgeting

Members, Technical Advisers, Observers invited to attend.

September 5, 2001

Zagreb, Croatia Croatian Association of Accountants and Financial Experts and the Croatian Ministry of Finance

Ian Mackintosh, Terence Nombembe, David Rattray, Mike Hathorn, with other PSC members

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Date


August 28 – 31, 2001

Dalian, People’s Republic of China

Department of Budget of China’s Ministry of Finance and the China Accounting and Finance Research

Ian Mackintosh

July 22, 2001 London, UK IASB Standards Advisory Council

Ian Mackintosh

July 22 – 24, 2001

Langkawi Island, Malaysia

Institute for State and Local Governments Accounting Research, School of Accountancy, University Utara Malaysia

Paul Sutcliffe

July 10 – 13, 2001

Yuovnde, Cameroon Ministry of Economy and Ministry of Finance (with European Union sponsorship) • Internal seminar for

preparation of a new financial constitution

• Participation, as international expert, in the seminar and presentation of IFAC PSC work.

Jean-Luc Dumont

June 4 – 5, 2001 Washington D.C., USA

• Inter-American Development Bank

• The World Bank • International

Association of Development Funds

David Rattray

June 3, 2001 Philadelphia, USA Governmental Finance Officers Association

David Rattray

June 15, 2001 Spain CIGAR Philippe Adhémar May Australia AASB Consultative Group Paul Sutcliffe May 29, 2001 New York. USA UN (Peter Leslie) Jim Sylph and

Simon Lee May 16, 2001 London, UK ICAEW Public Sector

Committee Mike Hathorn

May 2001 Melbourne, Australia Australian Accounting Standards Board

Paul Sutcliffe

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Date


May 2001 New York, USA Connecticut, USA

• UN Division of Economic and Social Affairs (DESA)

• UNDP • Japan Bank for

International Co-operation

• GASB

Paul Sutcliffe and Simon Lee

May 2001 Santiago, Chile Colegio de Contadores de Chile

Ian Mackintosh, PSC members, Observers

April 19, 2001 Istanbul, Turkey US Treasury Ron Points April 2 – 6, 2001 Miami, USA International Consortium on

Governmental Financial Management (ICGFM)

Ron Points

March 26, 2001 Malawi ESAAG Paul Sutcliffe March, 2001 Australia IASB PSC Liaison

representative Warren McGregor


February, 2001 Australia International Valuation Standards Committee Public Sector Experts Group

Ian Mackintosh, Paul Sutcliffe, Matthew Bohun

February 24, 2001

Islamabad, Pakistan Seminar on IPSASs • Institute of Cost and

Management Accountants of Pakistan (ICMAP);

• Institute of Chartered Accountants of Pakistan (ICAP);

• Pakistan Institute of Public Finance Accountants (PIPFA); and

• Pakistan Consortium on Governmental Financial Management (PCGFM).

Muhammad Rafi and Muhammad Abdullah Yusuf

January 24, 2001 London, UK Central Government Heads of Accounting

John Stanford

November, 2000 Amsterdam, Netherlands

FEE, Royal NIVRA Ian Mackintosh, Mike Hathorn, Erik Peters

November, 2000 Paris, France OECD Symposium Paul Sutcliffe November 2000 UK IFAD Mike Hathorn

Jon Blondal (OECD)

November, 2000 London, UK UK Treasury Paul Sutcliffe

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Date


October 2000 Australia Commonwealth of Australia Department of Finance

Paul Sutcliffe

October, 3 – 4 2000

Quebec, Canada Colloquium 2000 on Financial Management for National Governments

Ian Mackintosh and Paul Sutcliffe

October, 2000 Washington DC and New York – Funding meetings

• World Bank • Inter-American

Development Bank • International Monetary

Fund • United Nations

Development Program • INTOSAI Committee on

Accounting Standards • Federal Accounting

Standards Advisory Board

Ian Mackintosh and Paul Sutcliffe

ITEM 6.2 page 6.16

Item 6.2 Memo from P Sutcliffe on Work Plan PSC New York July 2004

INTERNATIONAL FEDERATION

OF ACCOUNTANTS

545 Fifth Avenue, 14th Floor Tel: (212) 286-9344

New York, New York 10017 Fax: (212) 286-9570

Internet: http://www.ifac.org

DATE: 1 JUNE 2004 MEMO TO: MEMBERS OF THE IFAC PUBLIC SECTOR COMMITTEE FROM: PAUL SUTCLIFFE SUBJECT: PSC STANDARDS PROGRAM WORK PLAN ACTION REQUIRED

• review and confirm the draft work plan or provide directions regarding any amendments.

AGENDA MATERIAL: Pages Item 6.3 Work Plan 2004 6.21 Item 6.4 Work Plan 2004 – 2006 6.22 Item 6.5 Standards Program status June 2004 6.23-6.25 Item 6.6 Projects of national standards setters 6.26-6.28 Status June 2004 The 2004 and 2004-2006 work plans have been updated to reflect progress made at/since the March 2004 meeting. Clean copies of the work plans are attached as items 6.3 and 6.4. Major activities/outputs since that meeting and an update on major projects are outlined below. The work plans are subject to change dependent on decisions made at this meeting. In particular, the PSC’s discussion of the PSC’s IASB Harmonization strategy at agenda item 12 is central to the work plan. The proposed harmonization strategy covers the period 2004 – 2009. A work plan for 2004 – 2009 is included at item 12.3 to support the strategy discussion. IPSASs, Exposure Drafts and Other Documents Issued • Budget Reporting The Research Report was finalized in May 2004 and

included on the IFAC web in the first week of June. • PSC Update 11 PSC Update 11 was issued in English, French and Spanish

in April 2004, following the March 24-26, 2004 PSC meeting

Documents included in this Agenda for PSC review • Impairment of Assets Draft IPSAS • Budget Reporting Final Research Report – Text only • Accounting for

Development Assistance Updated draft Exposure Draft

• Harmonization – GFS, ESA, IPSAS

Project Briefs on Disclosure of the General Government Sector and Performance Reporting

• Harmonization – IPSAS, IAS/IFRS

Proposed IASB Harmonization Strategy; and marked up drafts of four IPSASs in the “Improvements Project”.

17


• Report of External Review Panel

Summary of Responses to Review Questionnaire and Report on status of Review. The Review Panel Report will be distributed to members under separate cover.

Project Updates – major items for discussion at this meeting Report of the Review Panel The Report of the Review Panel will be distributed by the Review Panel Chair directly to PSC members for their review and comment. Members are requested to forward their comments to staff by June 14 (sooner if possible) for circulation to other PSC members prior to the meeting. A staff summary of PSC members comments will be prepared and distributed as soon as available. A brief status report is included at Agenda item 13. The Review Panel Report will be discussed at on the first day of the meeting. Impairment of Assets A draft IPSAS has been prepared following PSC discussions at the March 2004 meeting. The draft IPSAS together with staff recommendations on the resolution of outstanding issues are included at Agenda item 8. Budget Reporting The Research Report on budget reporting was finalized in May and included on the IFAC web in the first week of June. It is made clear that the Report reflects the views of the author and not necessarily those of the PSC. The Research Report together with staff proposals for moving forward is included at Agenda item 9. (The Appendices to the Research Report are not included in Agenda materials. They are quite lengthy and can be downloaded from the IFAC web.) Dr Jesse Hughes will be in attendance to discuss his Recommendations with members. Development Assistance The draft exposure draft considered by the PSC of its March meeting has been updated by Charles Coe, the consultant on this project, and together with a Progress Report, is included at Agenda item 10. Comments from PAP members will be included in the second distribution of materials to the PSC. Ian Mackintosh, the Chair of the Project Advisory Panel for this project, and Charles Coe will attend this PSC meeting to discuss the updated draft ED and provide members with an update on the consultative process with the PAP. GFS, ESA 95, IPSAS Convergence Project briefs on the disclosure of information about the General Government Sector and Performance Reporting are under development and will be included at Agenda item 11 in the second distribution of Agenda materials. Work has also been progressing on the development of a PSC Occasional Paper/Research Report which includes a matrix identifying differences between IPSAS, GFS and ESA 95 and recommendations of Working Group 1 of the Task Force on harmonization of Public Sector Accounting (TFHPSA) on mechanisms to achieve greater convergence of IPSASs, with GFS, ESA 95 and SNA as far as is appropriate given the different objectives of the accounting and statistical financial reporting models. A verbal report on progress will be provided at the meeting.

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IASB Harmonization At the last PSC meeting Staff were directed to prepare for discussion a strategy paper on how to deal with the continuation of harmonization of IPSASs. The proposed strategy was to provide for a stable platform of IPSAS to ensure that constituents were not faced with an ever changing suit of IPSASs, and to provide time lines that would allow for French and Spanish translations of IPSAS to be in place when the next generation of IPSASs became effective. The Chair requested the Vice-Chair, Mike Hathorn, to coordinate the IASs/IFRSs harmonization project. Staff met with the Vice-Chair in the course of developing the proposed strategy and work program at Agenda items 12.1-12. The PSC is updating the IPSASs for changes emanating from the IASB Improvements Project. The existing IPSASs have been marked up to identify changes necessary to harmonize with improved IASs/IFRs. IPSASs 1, 3, 16 and 17 are included for consideration at this meeting. Papers which outline the basis on which amendments were identified, the major changes to IPSASs are included at Agenda item 12A. A draft response to the IASB on the recent IASB exposure draft proposing amendments to IAS 19 Employee Benefits is included for discussion and approval at Agenda item 12.B and the draft revised Preface to IPSASs will be included in the second distribution of Agenda materials at Agenda item 12.C. Consultative Group The updated Consultative Group membership list is included at Agenda item 14. A meeting with North American members of the Consultative Group and other key constituents will take place on July 6. It is intended that at the meeting the Recommendations of the Budget Reporting Research Report be considered. Dr Hughes, the author of the Report is also a member of the Consultative Group and will be present. It may also be an opportunity to discuss the proposed IASB Harmonization Strategy with the Group. A list of attendees will be included in the second distribution, or circulated prior to the meeting. Other Matters Occasional Papers The work plan provides for preparation of Occasional Paper on USA experience and a Survey on the use of IPSASs. It is anticipated that at the November 2004 meeting a first draft of the USA paper and the Project Brief on the Survey will be presented. Heritage Assets It is proposed that the project proposal be developed for consideration by the PSC at its November 2004 meeting, and be considered in the light of PSC decisions on its IASB Harmonization Strategy and implications thereof for its broader work program. Other Projects Agenda item 6.6 provides a high level summary/overview of the broad types of projects that are being considered by standards setters and authoritative bodies in PSC member countries. These encompass short, medium and long term projects. This summary/overview is provided here for members to consider as they review the PSC 2004 draft work program. The summary/overview was prepared from input provided by members in response to a request from staff (early February 2004). It will be updated as additional input is received. Please advise staff of any revisions, additions etc and we will update for next distribution.

19


Invitations to Comment Comments on the following ITCs are due June 30, 2004: • Non-Exchange Revenue, Including Taxes, Grants and Transfers; and • Accounting for Social Policies of Government To date six responses to the ITCs have been received. An update on responses received will be provided at this meeting. It is intended that the PSC commence the substantive discussion of responses to the ITCs in November 2004. It was initially intended that at this meeting the PSC consider the ongoing role of the Steering Committees that developed the ITCs. In particular, whether the Steering Committee should be requested to reconvene to review responses and make recommendations to the PSC. The PSC previously discussed the role of the Steering Committees at its meeting in November 2003 (when the ITC’s were approved for issue), and agreed that the PSC would decide whether the Steering Committee should have a role in developing the Exposure Draft, or sections thereof, as it made decisions on how each project was to be developed. At that meeting, it was also noted that some Steering Committee members had expressed the view that if it was considered useful and appropriate, they would welcome the opportunity to provide their views on submissions to the PSC. Staff propose that the discussion of the ongoing role of the Steering Committees be deferred until the November 2004 meeting when the PSC reviews responses to the ITC. At that time the PSC will be better placed to determine how it intends to progress these projects and how they fit within its broader work program. In the interim, staff propose that responses to the ITCs and staff analysis thereof be provided to Steering Committee members for their information, at the same time that it is provided to PSC members. Staff are of the view that this is appropriate given the role of the Steering Committee in developing the ITCs. Non-Technical – Promotion and Translation Translation and promotion activities are identified in detail in Agenda item 6.1. 2004 Work Program - Summary Projects proposed for the PSC’s 2004 Work Program are:

1. Projects Currently in Process/agreed (a) Being progressed by, or potentially including the involvement of, Steering

Committees • Non-Exchange Revenue Reporting – Consider responses to ITC (Nov. 2004) • Social Policy Obligations Reporting – Consider responses to ITC (Nov. 2004) • Budget Reporting – PSC response to Research Report (July 2004). Follow-up

as necessary (b) Being progressed by the PSC with, in some cases, the assistance of Project

Advisory Panels or Working Groups • Impairment of Assets –Consider draft IPSAS (July 2004) • IPSAS-IFRS Harmonization – ED on IPSAS Improvement Project (July 2004

and ongoing)

20


• IPSAS-GFS-ESA 95 differences/convergence – Project Briefs (July 2004) Participation in TFHPSA (September 2004 and ongoing). Consider Research Report/Occasional Paper on “matrix” of differences

• Development Assistance – prepare ED (with the assistance of Project Advisory Panel) (July and Nov. 2004)

• Occasional Paper – the USA experience being prepared by USA delegation

2. Additional project proposals • Heritage Assets – Project proposal and follow up (Nov. 2004) • Study on use of IPSASs – consider project proposal (Nov. 2004)

3. Other

• IASB Harmonization Strategy and follow up (July 2004) • Respond to recommendations of the PSC Review Panel as appropriate (July

2004 and ongoing) • Monitor work of IASB and respond to IASB exposure drafts as appropriate

(July 2004 and ongoing) • Consider strategy re emerging priority projects such as conceptual

framework, public-private sector arrangements, non-financial performance indicators (2004 and 2005)

• Liaison with other IFAC committees and groups such as the IAASB, Ethics Committee and Compliance (ongoing)

• Promotion of the output of the PSC, attendance at seminars and encouragement of translation activity will continue during 2004

Staffing 2004 An update on staffing arrangements will be provided at the meeting.

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r

Impa

irm

ent o

f A

sset

sC

onsi

der

com

men

tsM

eetin

gFi

rst d

raft

IPS

AS

Fina

lize

IPSA

SIs

sue

IPSA

S

Cas

h B

asis

IPS

AS

No

actio

n 20

04R

evie

w I

mpl

emen

tatio

n E

xper

ienc

e

Tra

nsiti

onal

Gui

danc

e St

udy

14Is

sue

2nd

edit

ion

- W

ebC

onsi

der

if f

urth

er u

pdat

e is

nec

essa

ry

Dev

elop

men

t Ass

ista

nce

PAP

com

men

ts /

firs

t dra

ft E

DR

evis

ed E

D-P

AP

Upd

ate

PAP

Com

men

ts -

Fin

aliz

e/Is

sue

ED

Con

side

r co

mm

ents

/Iss

ue I

PSA

S

Glo

ssar

yIs

sue

Glo

ssar

yU

pdat

e G

loss

ary

as n

eces

sary

Rev

enue

- N

on-E

xcha

nge

Issu

e IT

C*

Upd

ate

on r

espo

nses

Con

side

r re

spon

ses

-SC

Mee

t?D

evel

op/I

ssue

ED

/dev

elop

IPS

AS

Soci

al P

olic

y O

blig

atio

nsIs

sue

ITC

*U

pdat

e on

res

pons

esC

onsi

der

resp

onse

s -S

C M

eet?

Dev

elop

/Iss

ue E

D/d

evel

op I

PSA

S

Bud

get R

epor

ting

Dra

ft R

epor

tR

epor

t Is

sued

Con

side

r R

ecom

men

datio

nsFo

llow

-up

Issu

e E

D/d

evel

op I

PSA

S (?

)

GFS

/ ESA

/SN

A H

arm

oniz

atio

n Rep

orts

fro

m W

G1/

Tas

k Fo

rce*

Proj

ect P

ropo

sal:G

enG

ovR

evie

w "

mat

rix"

pap

erFo

llow

up

activ

ity

Proj

ect P

ropo

sal:P

erfo

rm R

epFo

llow

up

activ

ity

Con

cept

ual F

ram

ewor

k C

onsi

der

Stra

tegy

Follo

w u

p ac

tivity

Mon

itor

IASB

/IFR

SSt

aff

Rep

-IA

SB U

pdat

eSt

aff

Rep

-IA

SB U

pdat

eSt

aff

Rep

-IA

SB U

pdat

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aff

Rep

-IA

SB U

pdat

e -o

ngoi

ng

IASs

/IF

RSs

Har

mon

izat

ion

Pro

ject

sC

onsi

der

Har

mon

zn S

trat

egy

Follo

w-u

p ac

tivity

as

nece

ssar

y

-Im

prov

emen

ts P

roje

ctC

onsi

der

mar

ked-

up I

PSA

SC

onsi

der

mar

ked-

up I

PSA

SC

onsi

der

mar

ked-

up I

PSA

SF

inal

ize/

Issu

e E

D/R

evis

ed I

PSA

Ss

- U

pdat

ed P

refa

ceC

onsi

der

draf

t upd

ated

Pre

face

Fin

aliz

e/Is

sue

ED

/Rev

ised

Pre

face

-E

mpl

oyee

Ben

efits

Mon

itor

IASB

/SN

A r

evie

wSu

bmis

sion

on

IASB

-ED

Con

side

r st

rate

gyFo

llow

-up,

pre

pare

issu

e E

D/I

PSA

S

-B

usin

ess

Com

bina

tions

Mon

itor

IASB

/No

actio

n 04

Follo

w-u

p ac

tivity

as

nece

ssar

y

-Fi

n. I

nst:

Rec

og &

Mea

sure

.R

epor

t on

Stat

us/N

o ac

tion

04C

onsi

der

stra

tegy

Follo

w-u

p ac

tivity

as

nece

ssar

y

- O

ther

IFR

SsM

onito

r IA

SB/N

o ac

tion

04C

onsi

der

Har

mon

ztn

Stra

tegy

Follo

w-u

p ac

tivity

as

nece

ssar

y

Oth

er P

ub S

ecto

r P

roje

cts

-H

erita

ge A

sset

s-R

ecog

/Msm

nt.

Proj

ect P

ropo

sal -

IT

C*?

Follo

w u

p/im

plic

atio

ns f

or I

PSA

S 17

-N

on-f

in.P

erfo

rman

ce R

epor

tN

o A

ctio

n 20

04C

onsi

der

stra

tegy

-Pu

blic

/Pri

vate

S. A

rran

gem

ent N

o A

ctio

n 20

04C

onsi

der

stra

tegy

Arg

entin

ean

Occ

asio

nal P

aper

Pap

er I

ssue

d

USA

Occ

asio

nal P

aper

Con

side

r U

SA P

aper

Fina

lize

and

Issu

e P

aper

Occ

asio

nal P

aper

-us

e of

IPS

ASs

Proj

Pro

posa

l- S

urve

y IP

SASs

Dev

elop

/Fin

aliz

e pa

per

Non

-Tec

hnic

al

PSC

Rev

iew

Not

e Pr

elim

inar

y R

epor

t Fi

nal r

epor

t and

PSC

res

pons

eFol

low

up

activ

ity

Con

sulta

tive

Gro

upL

ocal

are

a M

embe

rs m

eetin

gL

ocal

are

a M

embe

rs m

eetin

gL

ocal

are

a M

embe

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g

Tra

nsla

tion

- K

ey L

angu

ages

: St

atus

Fre

nch

and

Span

ish

Com

plet

e Fr

ench

and

Spa

nish

Con

side

r A

rabi

c, C

hine

se,

Rus

sian

, Oth

er K

ey la

ngua

ges

Prom

otio

nPS

C S

emin

ars/

Pres

enta

tions

Pres

enta

tions

PS

C S

emin

ars/

Pres

enta

tions

PSC

Sem

inar

s/Pr

esen

tatio

nsPS

C S

emin

ars/

Pres

enta

tions

* SC

- S

teer

ing

Com

mitt

ee*I

TC

Inv

itatio

n to

Com

men

t*O

EC

D T

ask

For

ce

*Wor

king

Gro

up1

IFA

C P

UB

LIC

SE

CT

OR

CO

MM

ITT

EE

(P

SC)

DR

AF

T W

OR

K P

LA

N 2

004

(Pre

pare

d fo

r M

arch

200

4 )

Ite

m 6

.3 P

SC W

orkp

lan

2004

PSC

New

Yor

k Ju

ly 2

004

Item

6.4

page

6.2

2

2004

2005

2006

Tec

hnic

al P

roje

cts

Im

pair

men

t of

Ass

ets

Fina

lize

IPSA

SIs

sue

IPSA

S

Cas

h B

asis

IPS

AS

Rev

iew

Im

plem

enta

tion

Upd

ate

as n

eces

sary

Tra

nsiti

onal

Gui

danc

e -

Stud

y 14

Rev

iew

/dev

elop

thir

d ed

ition

if n

eces

sary

Dev

elop

men

t Ass

ista

nce

Issu

e E

DD

evel

op/I

ssue

Cas

h B

asis

IPS

AS

Follo

w u

p fo

r ac

crua

l IPS

ASs

if n

eces

sary

Glo

ssar

yU

pdat

e if

nec

essa

ry

Rev

enue

- N

on-E

xcha

nge

Issu

e IT

C. C

onsi

der

com

men

ts o

n IT

CD

evel

op a

nd is

sue

ED

/ED

s?D

evel

op I

PSA

S

Soci

al P

olic

y O

blig

atio

nsIs

sue

ITC

. Con

side

r co

mm

ents

on

ITC

Dev

elop

ED

Issu

e E

D -

Dev

elop

IPS

AS

Bud

geta

ry R

epor

ting

Issu

e R

esea

rch

Rep

ort

Issu

e E

D (

ex-p

ost/b

udge

t com

pars

n)D

evel

op I

PSA

S/up

date

IPS

AS

1

-

Pros

pect

ive

Bud

get

Stee

ring

Com

dev

elop

IT

CIs

sue

ITC

GFS

, ESA

and

SN

A H

arm

oniz

atio

nA

gree

str

ateg

y/D

evel

op "

mat

rix"

Issu

e "M

atri

x" p

aper

Follo

w u

p ac

tion

G

en G

ov. S

ecto

r an

d Pe

rfor

man

ce R

epPr

ojec

t Bri

efs

Dev

elop

ED

and

Per

f R

ep. I

TC

Issu

e G

GS

ED

. Iss

ue I

TC

Per

f. R

ep

Con

cept

ual F

ram

ewor

k C

onsi

der

Stra

tegy

/Mon

itor

deve

lopm

ents

Dev

elop

ED

Mon

itor

IASB

- IA

Ss/I

FRSs

Ong

oing

Ong

oing

Ong

oing

-

IASB

Im

prov

emen

ts P

roje

ctA

ctio

n pr

ojec

t/Dev

elop

ED

Issu

e E

D

dev

elop

impr

oved

IPS

ASs

- U

pdat

ed P

refa

ceA

ctio

n pr

ojec

t/Dev

elop

ED

Issu

e E

D d

evel

op im

prov

ed P

refa

ce

-

Em

ploy

ee B

enef

its

Mon

itor

IASB

/SN

A a

ctiv

ity/S

trat

egy

Dev

elop

and

issu

e E

D

-

Bus

ines

s C

ombi

nati

ons

Mon

itor

IASB

act

ivity

/con

side

r st

rate

gyD

evel

op a

nd is

sue

ED

- F

in. I

nst:

Rec

og &

Mea

sure

.C

onsi

der

stra

tegy

re

IA39

and

IPS

AS

15Is

sue

ED

end

orsi

ng I

AS

39

- O

ther

IF

RSs

Con

side

r St

rate

gy

Follo

w u

p ac

tivity

Issu

e E

D -

Dev

elop

IPS

AS

Her

itage

Ass

ets-

Rec

og M

easu

rem

ent

Proj

ect P

ropo

sal/M

onito

r na

tiona

l pro

ject

sFo

llow

up

activ

ityIs

sue

ITC

/ED

?

Publ

ic/P

riva

te S

. Arr

ange

men

tsN

o ac

tion

Con

side

r St

arte

gyFo

llow

up

activ

ityN

on-f

inan

cial

Per

form

ance

Rep

ortin

gN

o ac

tion

Con

side

r St

arte

gyFo

llow

-up

activ

ity

W.I

.P n

on-e

xcha

nge

Serv

ices

No

actio

nC

onsi

der

if a

ctio

n ne

cess

ary

Occ

asio

nal P

aper

sD

evel

op U

SA p

aper

Pape

r on

oth

er c

ount

ryPa

per

on o

ther

cou

ntry

Con

side

r Su

rvey

on

adop

tion

of I

PSA

SD

evel

op s

urve

y/pr

epar

e pa

per

Issu

e pa

per

- m

onito

r

IFA

C P

UB

LIC

SE

CT

OR

CO

MM

ITT

EE

(P

SC)

WO

RK

PL

AN

200

4 -

2006

Item

6.4

PSC

Wor

kpla

n 20

04 -

200

6PS

C N

ew Y

ork

July

200

4

ITE

M 6

.5

page

6.2

3

Item

6.5

Sta

ndar

ds P

rogr

am S

tatu

s Ju

ne 2

004

PS

C N

ew Y

ork

July

200

4

PS

C W

OR

K P

RO

GR

AM

: S

TA

TU

S A

S A

T J

UN

E 2

004

Tec

hnic

al

Pro

ject

s P

SC S

tand

ards

Pro

gram

Ori

gina

l Pro

gram

(19

97-2

002)

C

urre

nt S

tatu

s IA

S/ I

FR

S

Stu

dy 1

1 G

over

nmen

tal F

inan

cial

Rep

ortin

g: A

ccou

ntin

g Is

sues

and

Pra

ctic

es

Fina

l Stu

dy is

sued

N

A

IPS

AS

1 P

rese

ntat

ion

of F

inan

cial

Sta

tem

ents

Fi

nal I

PS

AS

issu

ed

IAS

1 (&

IA

S 5)

IP

SA

S 2

Cas

h Fl

ow S

tate

men

ts

Fina

l IP

SA

S is

sued

IA

S 7

IPS

AS

3 N

et S

urpl

us o

r D

efic

it f

or t

he P

erio

d,

Fund

amen

tal

Err

ors

and

Cha

nges

in

Acc

ount

ing

Pol

icie

s Fi

nal I

PS

AS

issu

ed

IAS

8

IPS

AS

4 T

he E

ffec

ts o

f C

hang

es in

For

eign

Exc

hang

e R

ates

Fi

nal I

PS

AS

issu

ed

IAS

21

IPS

AS

5 B

orro

win

g C

osts

Fi

nal I

PS

AS

issu

ed

IAS

23

IPS

AS

6 C

onso

lida

ted

Fina

ncia

l Sta

tem

ents

and

Acc

ount

ing

for

Con

trol

led

Ent

itie

s Fi

nal I

PS

AS

issu

ed

IAS

27

IPS

AS

7 A

ccou

ntin

g fo

r In

vest

men

t in

Ass

ocia

tes

Fina

l IP

SA

S is

sued

IA

S 28

IP

SA

S 8

Fina

ncia

l Rep

ortin

g of

Int

eres

ts in

Joi

nt V

entu

res

Fina

l IP

SA

S is

sued

IA

S 31

IP

SA

S 9

Rev

enue

fro

m E

xcha

nge

Tra

nsac

tion

s Fi

nal I

PS

AS

issu

ed

IAS

18

IPS

AS

10

Fina

ncia

l Rep

ortin

g in

Hyp

erin

flat

iona

ry E

cono

mie

s

Fina

l IP

SA

S is

sued

IA

S 29

IP

SA

S 11

C

onst

ruct

ion

Con

trac

ts

Fina

l IP

SA

S is

sued

IA

S 11

IP

SA

S 12

In

vent

orie

s

Fi

nal I

PS

AS

issu

ed

IAS

2 IP

SA

S 13

L

ease

s

Fi

nal I

PS

AS

issu

ed

IAS

17

IPS

AS

14

Eve

nts

Occ

urri

ng A

fter

Rep

ortin

g D

ate

Fina

l IP

SA

S is

sued

IA

S 10

IP

SA

S 15

Fi

nanc

ial I

nstr

umen

ts: D

iscl

osur

e an

d P

rese

ntat

ion

Fina

l IP

SA

S is

sued

IA

S 32

IP

SA

S 16

In

vest

men

t Pro

pert

y Fi

nal I

PS

AS

issu

ed

IAS

40 (

& I

AS

25)

IPS

AS

17

Pro

pert

y P

lant

and

Equ

ipm

ent

Fina

l IP

SA

S is

sued

IA

S 16

IP

SA

S 18

Se

gmen

t Rep

orti

ng

Fina

l IP

SA

S is

sued

IA

S 14

IP

SA

S 19

P

rovi

sion

s, C

onti

ngen

t Lia

bili

ties

and

Con

ting

ent A

sset

s

Fi

nal I

PS

AS

issu

ed

IAS

37

IPS

AS

20

Rel

ated

Par

ties

Fi

nal I

PS

AS

issu

ed

IAS

24

- B

usin

ess

Com

bina

tion

s (r

evis

ed 1

998)

M

onit

or I

AS

B. C

onsi

der

stra

tegy

200

4 IF

RS

3 (I

AS

22)

-

Em

ploy

ee B

enef

its

Mon

itor

IA

SB

. Con

side

r st

rate

gy 2

004

IAS

19

P

SC S

tand

ards

Pro

gram

Add

itio

nal P

roje

cts

(199

7-20

04)

ITC

In

vita

tion

to

C

omm

ent:

T

he

Dev

elop

men

t of

In

tern

atio

nal

Pub

lic

Sect

o r

Acc

ount

ing

Stan

dard

s:

Whi

ch B

ases

of

Acc

ount

ing

Com

plet

ed.

NA

Stud

y 14

G

uida

nce

on th

e T

rans

ition

Fro

m C

ash

Acc

ount

ing

to A

ccru

al A

ccou

ntin

g St

udy

14 U

pdat

ed, 2

nd E

diti

on is

sued

N

A

ITC

Im

pair

men

t of

Ass

ets

(I

TC

pub

lish

ed J

uly

2001

, ED

pub

lish

ed S

ept 2

003)

C

onsi

der

com

men

ts M

arch

200

4 IA

S 36

1)

IA

Ss in

bra

cket

s (I

AS

5), h

ave

been

wit

hdra

wn.

2

4

Item

6.5

Sta

ndar

ds P

rogr

am S

tatu

s Ju

ne 2

004

PS

C N

ew Y

ork

July

200

4

Pub

lic S

ecto

r Sp

ecif

ic I

ssue

s –

2004

+ C

urre

nt S

tatu

s IA

S/ I

FR

S F/

W

Fram

ewor

k fo

r F

inan

cial

Rep

orti

ng in

the

Pub

lic S

ecto

r C

onsi

der

Str

ateg

y N

ov. 2

004

IAS

B, U

K-

AS

B

ITC

A

ccou

ntin

g fo

r N

on-E

xcha

nge

Rev

enue

s IT

C is

sued

IA

S 20

IT

C

Soc

ial P

olic

y O

blig

atio

ns

ITC

issu

ed

NA

IT

C

Bud

geta

ry R

epor

ting

C

onsi

der

revi

sed

Dra

ft R

esea

rch

Rep

ort M

arch

04

NA

-

GP

FS/G

FS/E

SA

95 H

arm

oniz

atio

n C

onsi

der

Wor

king

Grp

Rep

ort/

Str

ateg

y M

arch

04

NA

-

Her

itage

Ass

ets

Con

side

r P

roje

ct P

ropo

sal N

ov. 2

004

NA

-

Pub

lic/

Pri

vate

Sec

tor

Arr

ange

men

ts

Con

side

r st

rate

gy N

ov. 2

004

NA

WIP

of

‘Fre

e’ S

ervi

ces

No

Act

ion

2004

N

A

- N

on-F

inan

cial

Per

form

ance

Rep

orti

ng

No

acti

on p

lann

ed f

or 2

004

NA

O

ther

G

uide

R

evis

ion

of P

SC G

uide

line

1 –

Fin

anci

al R

epor

ting

by

GB

Es

Gui

deli

ne 1

Wit

hdra

wn

Nov

embe

r 20

02

NA

P

aper

U

K O

ccas

iona

l Pap

er

Issu

ed J

une

2002

N

A

Pap

er

Fren

ch O

ccas

iona

l Pap

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M 6

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page

6.2

6

Item

6.6

Pro

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Item

6.6

Pro

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2

8

Item

6.6

Pro

ject

s of

Nat

iona

l Sta

ndar

ds S

ette

rs

PSC

New

Yor

k Ju

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004 TO

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rg

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lnd

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or

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* C

onsi

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atio

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tand

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for

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and

Gov

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a n

umbe

r of

juri

sdic

tion

s is

like

ly to

invo

lve

at le

ast

som

e co

nsid

erat

ion

of th

ese

issu

es.

1.

Part

ially

cov

ered

in S

FFA

S 6.

No

activ

e pr

ojec

t.